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Buffett dumps Dish, ups stake in Goldman

New York, February 15, 2014

Warren Buffett's Berkshire Hathaway eliminated its stake in Dish Network Corp in the fourth quarter and added a stake in financial giant Goldman Sachs, according to a regulatory filing on Friday.

Berkshire had taken the Dish position in the second quarter. The regulatory filing does not disclose exactly when in the fourth quarter that Berkshire sold its 547,312 shares in the satellite TV company. The stock jumped about 36 per cent from the end of the second quarter to the end of last year.

The changes were disclosed in a US Securities and Exchange Commission filing made public on Friday, which detailed Berkshire equity investments as of December 31.

US regulators require large investors to disclose their stock holdings every quarter, and the disclosures can offer a window into their strategies for buying and selling stocks.

The filing also showed a new addition of 12,631,531 shares in Goldman Sachs Group Berkshire Hathaway disclosed in the previous quarter that it had exercised its warrant to buy shares of Goldman Sachs.

Berkshire converted warrants in Goldman Sachs acquired during the financial crisis.

Buffett received the warrants when his investment in Goldman was seen as a vote of confidence in the bank, which was reeling from turmoil in the credit market.

Calls and emails to Dish, Berkshire Hathaway and Goldman Sachs were not returned immediately.

Berkshire owns more than 80 businesses in such areas as insurance, railroads, utilities, chemicals and food.-Reuters




Tags: Goldman Sachs | Warren Buffett | Dish Network |

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